India: Mill scale prices edge up in Raipur, Jalna while Kandla stable

• Buying activity strengthens across key markets
• Improved material movement supports market activity

Indian mill scale prices showed a largely positive movement during the week, supported by improved buying activity and better dispatches following a slowdown in rainfall. As weather conditions improved, material movement picked up across key markets, while previously inactive buyers returned to the market. However, higher offers were not uniformly accepted, keeping price gains measured.

BigMint’s Fe 69% mill scale assessment for Kandla remained stable w-o-w at INR 7,500/t ($78/t) DAP Kandla, while Raipur prices increased by INR 50/t ($0.5/t) to INR 7,450/t ($78/t) ex-works. Jalna prices also edged up by INR 50/t ($0.5/t) to INR 6,300/t ($66/t) ex-works.

Kandla: Export demand supports market

Mill scale prices in Kandla remained largely stable to range-bound, with sellers maintaining firm offers amid limited inflows. Exporters were heard booking material at around INR 7,400-7,700/t ($77-80/t) DAP Kandla. Material from Mandi and Punjab remained relatively expensive, while supplies from Jalna and Indore were comparatively workable. Around 5,650 t of deals were recorded at INR 7,400-7,550/t ($77-79/t) DAP Kandla. Buying remained primarily export-driven, with no major fresh procurement reported from primary consumers.

Raipur: Improved buying lifts prices

Raipur mill scale prices increased as buying activity improved and sellers maintained higher offers. With rainfall easing, dispatches have started to pick up, while market participants expect material movement and production to improve further as weather conditions normalise. Some higher offers were heard, although buyers remained selective and did not accept the most aggressive levels. Around 5,100 t of deals were recorded at INR 7,450-7,600/t ($78-79/t) ex-works Raipur.

Jalna: Market remains range-bound

Jalna mill scale prices edged up marginally, although the market remained largely range-bound. No significant fresh procurement from major mills was reported, while dispatches against earlier bookings continued. Mills were heard operating at around INR 6,200-6,450/t ($65-67/t) ex-works, with market participants expecting limited directional movement unless fresh procurement or supply conditions change. Around 1,250 t of deals were recorded at INR 6,300/t ($66/t) ex-works Jalna.